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No one but Moscow gains from Polish-Ukrainian tensions

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The writer is editor-in-chief of the Polish weekly Kultura Liberalna and currently a senior fellow at the Zentrum Liberale Moderne in Berlin

In 2012, the eyes of Europe were on Poland and Ukraine as the two countries jointly hosted the European Championship football tournament. Warsaw was even keen to present itself as Kyiv’s informal ambassador to western Europe. The mental map of Europe was to move eastward.

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Polish and Ukrainian confidence about the future did not last long. In 2014, Russia attacked Ukraine, an act of aggression that cut through the region’s post-cold war optimism. Donetsk, one of eight cities that hosted the Euro matches, is occupied by Russia. The solidarity has shifted to a war footing.

Poland and Ukraine have come a long way in more than two years: from spontaneous camaraderie to a series of misunderstandings. I read this as a sign of the wider geopolitical change in the region. The reasons for the Polish-Ukrainian arguments are structural and will not easily go away. Moreover, Ukraine’s aspirations to join the EU and Nato may intensify them.

Only recently, a sharp dispute was said to have arisen in Kyiv between Ukrainian President Volodymyr Zelenskyy and Polish foreign minister Radosław Sikorski. According to media reports, which have not been denied, Zelenskyy demanded, among other things, the delivery of MiG-29 fighter jets. In turn, Sikorski demanded a solution to the problem of the exhumation of some tens of thousands of Poles murdered by Ukrainians in the Volhynian massacre during the second world war.

The ensuing non-diplomatic brawl was only one link in a chain of acrimonious incidents. In July, Władysław Kosiniak-Kamysz, Poland’s deputy prime minister and defence minister, declared that Ukraine could not be admitted to the EU until Warsaw and Kyiv resolved the issue of Volhynia. Later, the atmosphere grew more heated after Sikorski, in a closed discussion, was said to have aired the possibility of placing Crimea under a UN mandate with the prospect of a referendum on the territory’s status in the distant future. In turn, a former head of the Ukrainian foreign ministry, during a recent meeting in Poland, was tempted to make ambiguous statements that could have been interpreted as questioning Poland’s borders.

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These frictions are all the more surprising given the result of last year’s parliamentary elections in Poland. After eight years, the national populist Law and Justice (PiS) party was replaced in power by a coalition led by Donald Tusk, a former premier who had embodied Polish-Ukrainian friendship by helping to organise the Euro 2012 event. The past few weeks prove that the war is changing us all, Poles and Ukrainians alike. So what is happening?

First, the Polish government is operating under post-populist conditions. There is no automatic return to the old days. Tusk’s coalition is trying to decrease the nationalistic egoism with which the PiS government saturated society. But his strategy of moving the electorate away from the national populists is proceeding slowly and cautiously. It is like serving mild mayonnaise after eight years of spicy mustard.

In practice, this means that the Tusk government is not jettisoning all aspects of foreign policy as conducted in the PiS era. It exhibits a certain intransigence towards foreign partners, including Ukraine. This is best understood as part of the process of Poland’s transition from populism to liberal democracy.

Second, compared with 2012, the war brought an end to the era of the “junior partner” in bilateral relations. To the world’s surprise, Ukraine not only stopped Vladimir Putin’s blitzkrieg, but dared to send troops into Russian territory. It is building global relations without intermediaries. The Ukrainian army is one of the most battle-tested in Europe. In the matter of new weapons such as drones, it is Poland that could learn a lot from Ukraine.

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When peace comes, Ukraine will claim a greater role in the region. We are witnessing a geopolitical shift in eastern Europe. Kyiv wants to join Nato and the EU and to play an important role. For Ukrainian politicians, there are areas on the horizon in which reliance on foreign aid may give way to competition. In this context, they feel empowered to address the politics of historical memory more uncompromisingly.

In the meantime, all too often politicians in both countries recently have engaged in a kind of competitive verbal bidding — apparently to fill an intellectual vacuum in front of their citizens. “Where two fight, the third benefits” is the conventional saying. Moscow has not ceased to be a threat to the region. Unfortunately, recent wrangles prove that such geopolitical clichés, however true they may be, are quickly forgotten by some politicians.

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UN says peacekeepers wounded by Israeli fire

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Israeli forces fired a tank shell at the UN peacekeepers’ headquarters in southern Lebanon on Thursday, the UN said, injuring two international troops as Israel pursued its campaign against Hizbollah militants.

The strike on a watchtower within the headquarters in the village of Ras al-Naqoura was the third time in 24 hours that Israeli fire struck border posts used by Unifil, the UN’s interim force in Lebanon, the peacekeepers said.

The incidents prompted an outcry from countries contributing to the peacekeeping force. Italy summoned Israel’s ambassador, while Rome’s defence minister, Guido Crosetto, said the incidents “may constitute war crimes”. “This is not a mistake and not an accident,” he said on Thursday.

And at least 18 people were killed and 48 more wounded in twin Israeli air strikes in central Beirut on Thursday evening, Lebanon’s health ministry said. 

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Plumes of smoke were seen rising from two separate locations in the centre of the Lebanese capital, at least 5km away from its southern suburbs where the bulk of Israel’s air strikes have hit. It was not immediately clear who or what the targets were. 

Footage carried by Lebanese media at one of the locations showed a large fire blazing in the background, with rescue workers digging through an enormous mound of rubble. Photos and video from the second location showed one strike hit the lower half of a residential building.

This is the second time Israel has struck central Beirut in the past 10 days. There was no immediate comment from the Israeli military.

Unifil’s headquarters and nearby border posts have come under repeated fire since Israel began stepping up its campaign against Iran-backed Hizbollah last month — battering Lebanon with thousands of air strikes, killing much of the group’s leadership and launching a ground invasion.

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“Any deliberate attack on peacekeepers is a grave violation of international humanitarian law and of Security Council resolution 1701,” Unifil said on Thursday, referring to the UN resolution that grants the force its mandate to patrol southern Lebanon.

Italy, which has more than 1,250 peacekeeping troops in Lebanon, said it had also complained to the UN. Unifil has not released the nationalities of the wounded troops, but Italy, Ireland and France said their personnel were not injured.

Crosetto said: “The hostile acts carried out and reiterated by Israeli forces [against one of the Unifil bases] could constitute war crimes and certainly represent very serious violations of the norms of international humanitarian law, not justified by any military necessity.”

He said the Israeli ambassador had not been able to provide an explanation. “We need formal, real explanations as quickly as possible,” Italy’s defence minister added.

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France also expressed “deep concern” and said it was awaiting explanations from Israel.

Unifil said it was following up with Israel’s military on the issue.

The Israel Defense Forces on Thursday said Hizbollah was operating in and near civilian areas in southern Lebanon, including areas near Unifil posts, and that it maintained routine communication with the UN force.

The IDF said: “This morning [Thursday], IDF troops operated in the area of Naqoura, next to a Unifil base. Accordingly, the IDF instructed the UN forces in the area to remain in protected spaces, following which the forces opened fire in the area.”

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Israel’s Rome embassy said its government would continue to make every effort not to target UN forces but claimed Hizbollah was trying to hide near Unifil bases, and Israel had already discovered tunnels and weapons depots near that area.
 
“Israel has recommended several times to the Italian Unifil military to withdraw part of their forces from the area for security reasons, but unfortunately the request has been rejected,” the diplomatic mission said.

Last week Israel called on UN peacekeeping troops to withdraw from their posts along the Blue Line, the de facto border with Lebanon, as it pushed ahead with its ground invasion. That triggered outrage from states that contribute personnel to the 46-year-old peacekeeping force.

Ireland, which has 347 troops stationed in southern Lebanon as part of a joint battalion with Polish soldiers, rejected those calls, insisting it would not evacuate them even as Israel intensified its air campaign.

Earlier this week Micheál Martin, Ireland’s foreign and defence minister, criticised Israel’s “reckless behaviour”. Asked by RTÉ television if the IDF was using the soldiers as human shields, Martin said: “They are certainly availing of the cover that they present.”

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US state department spokesperson Matthew Miller said earlier this week: “We don’t want to see Unifil forces put in danger in any way.”

Smoke from air strikes over Beirut’s southern suburbs
Smoke from air strikes over Beirut’s southern suburbs © Amr Abdallah Dalsh/Reuters

Israeli forces and Hizbollah militants have clashed at several points along or near the informal border in recent days, including near the southern village of Labbouneh, where one of the UN’s border posts was struck on Thursday.

Unifil has also come under fire from Hizbollah in the past. In 2022, an Irish peacekeeper was killed and another seriously injured when their armoured patrol cars came under fire in a Hizbollah-controlled area.

On Thursday, Unifil said its bases and headquarters were facing “deliberate” fire from Israeli forces, suggesting they were targeted rather than being caught in the crossfire.

In one instance, IDF soldiers fired on an Unifil position in Labbouneh on Wednesday, the international force said, adding that the entrance to the bunker where peacekeepers were sheltering had been hit.

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“An IDF drone was observed flying inside the UN position up to the bunker entrance,” it said, adding that IDF soldiers “deliberately fired at and disabled” the border post’s perimeter-monitoring cameras the day before.

In another incident, Unifil said Israeli soldiers had “deliberately fired” on the peacekeepers’ headquarters in Ras al-Naqoura on Wednesday — a building where regular meetings between Israel, Lebanon and Unifil were held before the war — causing damage.

Unifil was established in 1978 and expanded following the 2006 war between Israel and Hizbollah. It has about 10,500 peacekeeping troops, with major contributing nations including France, Italy, Indonesia, Malaysia and Ghana.

Israel’s invasion of southern Lebanon, which began late last month, has swollen to four divisions of troops — amounting to as many as 20,000 soldiers at full strength — as the country’s conflict with Hizbollah has intensified.

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Israeli strikes have killed more than 2,100 people over the past year and forced in excess of 1.2mn from their homes, mostly in the past two weeks, according to Lebanese authorities. They have also caused widespread destruction in southern Lebanon.

Israel has said its Lebanon offensive is aimed at securing its northern border area to allow about 60,000 Israelis to return to their homes, after a year of exchanging cross-border fire with Hizbollah.

The Lebanese group began firing rockets towards Israel in support of Gaza a day after the October 7 2023 Hamas-led attack on southern Israel.

Additional reporting by Mehul Srivastava, Jude Webber in Dublin and Steff Chávez in Washington

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Cartography by Steven Bernard and Cleve Jones

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The Sun launches interactive tool to check benefits – see if you get winter fuel payments or pension credit this winter

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The Sun launches interactive tool to check benefits - see if you get winter fuel payments or pension credit this winter

TODAY, The Sun launches a free tool to help you check whether you will get the Winter Fuel Payment this year. 

The free benefits checker is in partnership with poverty charity Turn2Us. It quickly tells you if you’re missing out on any cash.
If you are unable to access the internet you could ask a friend or relative to help you do the check. 

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We were flooded with calls and emails earlier this week, with many readers asking whether they were entitled to pension credit or other benefits.

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In her July statement, Chancellor Rachel Reeves announced that this winter only households in England and Wales that receive Pension Credit or certain means tested benefits will be entitled to the Winter Fuel payment. 

Previously it was available to everyone aged over 66.

New government figures estimate that 770,000 pensioners are at risk of missing out this winter. 

The benefit, which is worth up to £300, unlocks a host of other awards including a free TV licence and cheaper water bills worth up to £3,900. 

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Michael Clarke, from Turn2us: “It’s crucial that people are supported by friends and family to check they are getting all the support available to them. 

“In just 10 minutes, the Turn2us Benefits Calculator will tell people if they are eligible.”

You will need some personal information to hand about your current income, including state and private pensions, and any benefits you currently receive. 

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If you are eligible to apply for Pension Credit you can call the DWP helpline on: 0800 99 1234

When you claim you will need your national insurance number and details of any savings and investments, plus information on housing costs such as mortgage interest, service charges or ground rent. 

You must lodge a claim by December 21 to get the Winter Fuel Payment this year.

FIX YOUR ENERGY BILLS?

If you’re not on a fixed tariff then it may be worth considering one. Many of the top fixed tariffs are now cheaper than the price cap and could save you money. You can compare tariffs using uSwitch.com or Moneysavingexpert.com. 

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WARM HOME DISCOUNT 

The Warm Home Discount is £150 one-off payment towards electricity bills. You will usually get it automatically – but you need to apply if you’re on a low income in Scotland.
You should check with your energy supplier if you’re on a low income and think you are eligible. 

HOUSEHOLD SUPPORT FUND

You can apply to your local council for help if you’re on a low income. Search the name of your local council and ‘household support fund’ to find out details on how you can apply. Eligibility criteria and the amount you will get varies based on where you live – but some households have got up to £500.

ENERGY GRANTS

Many of the UK’s biggest energy suppliers have grants in place to help struggling customers. For example, British Gas offers grants of up to £2,000. .
Ask your supplier if there is anything they can offer
FREE INSULATION OR BOILERS 

You may be able to get free or cheap insulation to help reduce your home’s energy bills. Check here: https://www.gov.uk/apply-great-british-insulation-scheme

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GET FREE DEBT HELP

THERE are several groups which can help you with your problem debts for free.

  • Citizens Advice – 0800 144 8848 (England) / 0800 702 2020 (Wales)
  • StepChange – 0800138 1111
  • National Debtline – 0808 808 4000
  • Debt Advice Foundation – 0800 043 4050

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THG shareholders have to pay for (maybe) getting rid of Ingenuity

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Last month, we wrote of THG’s plan to “demerge” its ecommerce division into private ownership: “the word for this is usually ‘disposal’”. This was incorrect. The correct phase is “hostage situation”.

Per RNS, post London close:

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Ingenuity to be demerged into a standalone independent private entity 

Target c.£75 million equity raise to facilitate the demerger, by way of a Placing and Subscription, with additional proceeds from a Retail Offer

[ . . . ]

These funds, in conjunction with appropriate standalone debt issuance plans for Ingenuity, are expected to provide Ingenuity with sufficient medium-term funding as the business approaches positive cash generation on a standalone basis

Here’s the cunning plan. Ingenuity will be hived out of the listed group and each THG shareholder will be given a choice. They can elect to take shares in unquoted Ingenuity that are more, less, or equal to the proportion of THG currently owned; or they can not.

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The £75mn+ being kicked in by THG shareholders supports an equity valuation on Ingenuity of “up to £100mn”. Spinco will also be wearing net debt up to a £307mn enterprise value, including lease liabilities, while “appropriate standalone debt issuance plans” are finalised.

However!

However, in determining the definitive Valuation, the Board anticipates also taking into account fluctuations in the market capitalisation of THG such that if, at the latest practicable date prior to the publication of the Demerger Circular, the market capitalisation of THG is:

• equal to or greater than the market capitalisation of THG at the time of completion of the Fundraise [ . . . ] then the Valuation to be used in establishing the entitlement of THG shareholders to elect to receive their respective pro rata entitlements to shares in IngenuityCo in connection with the Demerger would be expected to be £100m; or 

• less than the Post Placing Market Cap, then the Valuation to be used in establishing the entitlement of THG shareholders to elect to receive their respective pro rata entitlements to shares in IngenuityCo in connection with the Demerger would be expected to be reduced from £100m proportionately to the percentage by which the Post Placing Market Cap has declined.

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The placing is an institutional overnight bookbuild, with THG founder Matt Moulding and friends already committed to put in £33mn of the £75mn to be raised. Retail shareholders can apply to buy new shares on the same terms via PrimaryBid, with their allocation capped at €8mn.

Ingenuity’s biggest customer by far will of course be THG, with which it shares staff and office space. Other than an assurance that Ingenuity senior management will remain, there’s no information provided on how that might change. But THG’s internal checks and balances are strong enough for that not to be a concern, apparently. From the statement:

Further work is ongoing to design the appropriate governance framework for IngenuityCo. Separately, THG’s now well-established related parties committee chaired by Sue Farr, Senior Independent Director of THG will, following the Demerger, be responsible for overseeing transactions between RemainCo and IngenuityCo. Arms-length contracts between Ingenuity and each of Beauty and Nutrition have been in place since 2022, and will be expected to continue to operate post separation in the same manner as they do today. Ingenuity would have no recourse to THG post demerger.

And obviously . . . 

Whilst at this stage no certainty can be provided on the exact timescale of the Demerger, the current intention is that publication of the Demerger Circular would be in or by early November with the distribution of IngenuityCo shares being completed at or before the end of 2024.

The last complex deal involving Ingenuity put a $6.3bn valuation on the subsidiary, but didn’t quite work out. Depending where the placing is priced, this new package implies an pre-fundraise standalone value for Ingenuity three years later of between £25mn and zero. The value inside THG is, by implication, much less than zero.

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Still, it’s been quite a journey:

Line chart of Share price, pence showing

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Martin Lewis issues warning to anyone aged under 22 – do you have £2,000 in a forgotten account?

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Martin Lewis issues warning to anyone aged under 22 - do you have £2,000 in a forgotten account?

MARTIN Lewis has issued a warning to anyone under 22 who could have £2,000 sitting in a forgotten account.

Child Trust Funds are long-term, tax-free savings accounts which were set up for every child born between September 2002 and January 2 2011.

Martin Lewis has issued a warning to anyone under 22

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Martin Lewis has issued a warning to anyone under 22Credit: Rex

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The Money Saving Expert said on X that those aged 22 and under could have the Child Trust Fund set up and access it for free.

But he also warned that some firms are attempting to charge individuals to “get your own money” – but Lewis says “don’t pay.”

The Government deposited £250 for every child during that time period, or £500 if they came from a low income family earning around £16,000 a year or below.

An extra £250 or £500, depending on their families’ economic status, was deposited when the child turned seven.

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In 2010, this was reduced to £50 for better off households and £100 for those on a lower income.

The scheme was eventually scrapped in 2011 as part of cost-cutting measures following the 2009 financial crisis and was later replaced with Junior ISAs.

Currently, parents or friends can deposit up to £9,000 into the child’s account tax-free, with the money usually invested into shares.

The youngest children across Britian to have these accounts are about 13 years old, so have around five years before they can access the cash.

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It is important to note that savings in these accounts are not held by the Government but are held in banks, building societies or other saving providers. 

The money stays in the account until it’s withdrawn or re-invested.

Moment Martin Lewis slams ‘you’re taking money from UK’s poorest pensioners’ in fiery clash with cabinet minister on GMB

Young people can take control of their Child Trust Fund at 16, but can only withdraw funds when they turn 18 and the account matures.

However, new figures released by the HMRC have found that more than 670,000 18-22 year olds are yet to claim their Child Trust Fund.

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The tax office said that the average savings pot is worth £2,212.

Angela MacDonald, HMRC’s second permanent secretary and deputy chief executive, said the government wants to “reunite young people with their money and we’re making the process as simple as possible.”

She added: “You don’t need to pay anyone to find your Child Trust Fund for you, locate yours today by searching ‘find your Child Trust Fund’ on GOV.UK.”

How to track down a Child Trust Fund

If you were born in the UK between 2002 and 2006 it is worth checking to see if you have cash in a Child Trust Fund.

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Parents were either given a voucher to set one up or HMRC set one up on a child’s behalf.

There are a number of third party groups offering to search for Child Trust Funds but it worth noting that they will charge a fee so you might loose a chunk of your money.

The Government has a free tool you can use online to help track down your fund.

You can find this by searching for “find a Child Trust Fund” on GOV.UK.

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LOST CASH

By Charlene Young, pensions and savings expert at AJ Bell

MANY parents and children aren’t aware they even have the account, or don’t know who the money is with or how to track it down.

More than a quarter of CTF accounts were set up by the government because parents failed to do so within the 12-month window.

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This highlights why so many are unclaimed – as the parents either weren’t aware or won’t remember that an account was even set up for their child, let alone where the money is now.

Any child born between 1 September 2002 and 2 January 2011 who hasn’t already got details of their account should track it down.

Once you’ve tracked down the money you can choose what to do with it. Your options are to transfer it to an adult ISA or withdraw the money. Until then your money will just sit in an account that no one else has access to, possibly paying very high charges.

Anything you transfer to an adult ISA at maturity will not count towards your annual ISA allowance, which is £20,000 for over 18s.

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For many young people who have CTFs but are still under 18, it will make sense to transfer it to a Junior ISA, where the charges will likely be lower, and you’ll have a much bigger investment choice.

The money will still be locked up until you turn 18, but the tax-free benefits of ISA investing still apply. You can transfer the entire CTF into a Junior ISA and still add up to £9,000 to it in the same tax year.

You’ll need to have a few personal details to hand to do the search, including your date of birth and National Insurance (NI) number.

Your NI number remains the same for your entire life. It’s made up of two letters, six numbers and a final letter. 

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You can find this number on your payslips or by downloading the HMRC app, which can be downloaded on the Apple or Google Play Store.

When you’re done filling this out, HMRC will then send you a letter revealing what company has your Child Trust Fund.

What to do once you have claimed the money

Usually, people put the cash straight into a bank account, invest it, or transfer it into an ISA.

You can also ask your Child Trust Fund Provider to give you the money and get it cashed into your bank account.

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This way you’ll need to share the bank account details you wish to transfer the cash into with HMRC.

But if you’d rather invest it, you can transfer it into an ISA.

The Sun recently broke down whether or not an ISA is right for you, which you can read here.

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CPI data to drive 'favorable impact' on Bitcoin prices — 21Shares

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CPI data to drive 'favorable impact' on Bitcoin prices — 21Shares


Consumer prices in the US rose by 2.4% in September, above market expectations but still in a negative trend compared to the past few years.



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Georgia opposition debuts civil blockchain project ahead of critical elections

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Georgia opposition debuts civil blockchain project ahead of critical elections


 Georgia’s political opposition wants to use blockchain technology to develop civil society and the country’s business landscape. 



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